According to Fitch, the Vietnamese Government will support
Agribank when necessary as the bank plays an important role in the country’s
banking system and is one of the four largest banks in Vietnam by total assets
and network.

The positive outlook also reflects Fitch’s views on Vietnam’s
improvement in providing support when necessary.

As of December 31, 2017, Agribank had reported a 20 percent
increase in profit to a record 5.01 trillion VND (220.44 million USD). The bank’s
total assets also hit nearly 1.2 quadrillion VND (52.8 billion USD) and its
mobilised capital was close to 1.1 quadrillion VND (48.4 billion USD). The bank
contributed 1.2 trillion VND (52.8 million USD) to the State budget.

In 2017, Agribank led commercial banks in the list of the 500
biggest firms in Vietnam and ranked sixth overall on the list.

The bank also won other awards in the year, such as Sao Khue
Award, “Bank for Community” Award, and awards granted by JCB International
Credit Card Co., Ltd., Bank of New York Mellon, Wells Fargo and JP Morgan.

In the ratings, Fitch
also affirmed the long-term IDRs of Vietnam Joint Stock Commercial Bank for
Industry and Trade (Vietinbank) and Joint Stock Commercial Bank for Foreign
Trade of Vietnam (Vietcombank) at ‘B ’ with a positive outlook.

The viability rating of the two banks was upgraded to ‘B’ from
‘B-’.
Meanwhile, the long-term IDR of Military Commercial Joint Stock Bank
(Military Bank) was upgraded to ‘B ’ from ‘B’ with a stable outlook. -VNA